Volvo CEO: Customers Must Pay Tariff Costs, Not Us

Volvo may face obstacles in selling its electric EX30 in the US due to tariffs imposed by President Trump on imported vehicles. The automaker produces S60 and EX90 models in the US but imports the rest of its lineup from overseas. Trump’s 25% tariff on imported vehicles has now escalated to a potential 50% duty on all goods imported from the European Union, creating uncertainty for automakers. Volvo CEO Hakan Samuelsson expects buyers to bear most of the related costs, with the tariffs potentially hindering the EX30’s US sales. Other car manufacturers, such as Aston Martin and Subaru, are also passing on added costs to consumers. The industry is grappling with the impact of tariffs, with concerns raised about price increases and reduced competitiveness in the market.